The Activity took place on August 29, 2024, at the College of Engineers and Surveyors of Río Piedras from 8:00 AM to 2:00 PM
August 29, 2024 – Maximiliano J. Trujillo-Ortega, State Director of USDA Rural Development Puerto Rico, spoke Thursday, August 29, at the Enlace "Lender Matching" event at the College of Engineers and Surveyors of Puerto Rico in Rio Piedras.
Trujillo-Ortega participated in a panel along with SBA, DDEC and INCLUSIV where federal funds to be invested in renewable energy projects were discussed. These programs have funds to finance projects that can reduce energy costs and offer other financing alternatives for businesses.
The Rural Energy for America Program (REAP) helps agricultural producers and rural small business owners make energy efficiency improvements and investments in renewable energy to reduce energy costs, generate new revenue, and strengthen the resilience of their operations. The deadline for this eligibility window is September 30, 2024.
Through other programs, USDA provides interest-free loans to local utilities, such as rural electric cooperatives. They then provide loans to local businesses for job creation and retention projects in rural areas. The Rural Economic Development Loan and Grant Program (REDLG) provides grants to local public service organizations, which use the funds to establish revolving loan funds to finance community facilities.
Trujillo-Ortega also indicated that these funds would help rural electric cooperatives create jobs in their communities.
Applicants can use funds to realize their work plan, for expansion and business incubators; technical assistance and feasibility studies; essential community facilities; and advanced telecommunications and computer networking services for medical, educational, and job training opportunities. USDA is particularly interested in applications that advance the Biden-Harris Administration's priorities for:
• Reduce climate pollution and increase resilience to the impacts of climate change through economic support to rural communities.
• Ensure that all rural residents have equitable access to Rural Development (DR) programs and benefit from DR-funded projects.
Help rural communities recover economically through more and better market opportunities and through better infrastructure.
USDA anticipates awarding approximately $50 million nationally in fiscal year 2025, with the largest loans at $2 million and the largest grants at $300,000. Applications must be submitted to the USDA Rural Development State Office where the project is located no later than 4:30 p.m. local time on the following dates:
First quarter: September 30, 2024. • Second quarter: December 31, 2024. • Third quarter: March 31, 2025. • Fourth quarter: June 30, 2025.
USDA Rural Development provides loans and grants to help expand economic opportunity and create jobs in rural areas. This assistance supports infrastructure improvements, business development, housing, community facilities such as schools, public safety and health care, and high-speed internet access in rural areas. For additional information, please write to RD.PR.PUERTORICORD@usda.gov .
If you would like to subscribe to USDA Rural Development updates, please visit our GovDelivery subscribers page. You can follow us on our X @RD_PuertoRico account.
USDA is an equal opportunity provider, employer, and lender.